Aluminium Billet Stocks Dip after Two Weeks of Accumulation

SHANGHAI, Mar 23 (SMM) – After two weeks of accumulation, the domestic aluminium billet social inventory dipped 1,500 mt from a week ago to 167,900 mt as of March 23. Stable aluminium billet production ensured smooth arrivals. More billets flowed to Foshan instead of Wuxi due to widening price difference between the two regions. As a result, stocks in Foshan kept growing while those in Wuxi declined rapidly. Considering stable billet production and continued rise in downstream operating rates in March-April, aluminium billet stocks are on track to drop further, albeit at a slow pace.